by Kenneth Schortgen, The Daily Economist:
On Friday silver crossed back over $18 per ounce for the first time since November as the precious metal complex has been even stronger at the start of this year than it was 2016 following identical rate hikes in December by the Federal Reserve. And now that gold has achieved a vastly important technical indicator by initiating the highly positive Golden Cross, prices for metals are fueled for takeoff at a time of vast uncertainty, and where Jim Rogers, the undisputed King of Commodity trading, is forecasting economic problems so dire that they will be the worst in our lifetime, and consequently people will perish.
…get prepared because we’re going to have the worst economic problems we’ve had in your lifetime or my lifetime and when that happens a lot of people are going to disappear.
In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they’ve been through everything and yet they disappear.
So the next time around it’s going to be worse than anything we’ve seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried.
When you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you’re five or six or seven years into a bull market.
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven’t even gotten to war. I haven’t even gotten to trade war or anything like that but you know things do go wrong. – Microvoices via Zerohedge